savings account
1 of 1noun/ˈseɪvɪŋz əˈkaʊnt/
Forms:savings accounts
1
a bank account that pays interest on one's deposited money and is intended to help one save over time
- She transferred part of her salary into her savings account each month.
- His savings account accumulated a small interest over the year.
- I set up a savings account to save for my future home.
- They opened a joint savings account for their wedding expenses.
- The bank offers a high-interest rate on its savings accounts.